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Japan-Update

Daito Trust Construction on course for 8th straight record profit

But profit growth at Japanese builder seen slowing as costs mount

Vacancy rates at apartments managed by Daito Trust Construction are expected to remain around 3-4% this fiscal year.

TOKYO -- Daito Trust Construction's group operating profit is likely to rise about 4% to roughly 125 billion yen ($1.14 billion) for the current fiscal year ending March 2018 thanks to strong demand for apartment buildings as investment properties.  

This would mark the eighth consecutive year of record operating profits at the Japanese rental housing company, which reports results for the just-ended fiscal 2016 on April 28. But with labor and materials costs mounting in the buildup to the 2020 Tokyo Olympics, profit growth seen slowing from the double-digit pace it had sustained.

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